Pernod Ricard and Irish Distillers have finalised the sale of Paddy Irish Whiskey, to US family-owned drinks company Sazerac.
Pernod Ricard and Irish Distillers have finalised the sale of Paddy Irish Whiskey, to US family-owned drinks company Sazerac.
The signing and completion of the sale of Paddy Irish Whiskey, believed to be the 4th largest Irish whiskey brand in the world, was announced today (May 18).
The value of the deal has not yet been made public.
Sazerac is one of New Orleans' oldest family-owned, privately-held companies and has operations across North America.
Irish Distillers had previously said that following the deal, staff at Irish Distillers' Midleton distillery would remain in place under their current terms and conditions of employment.
The company, which employs 600 people in Dublin and Cork, also said the sale would ensure that Paddy would continue to be produced in Midleton, Cork.
Wines and spirits giant Pernod Ricard currently has some of the biggest drinks brands in the world on its books, including Absolut Vodka, The Glenlivet Scotch whiskies, Jameson Irish whiskey, Havana Club rum, Beefeater gin, Mumm and Perrier-Jouët champagnes, as well Jacob's Creek, and Campo Viejo.
Irish Distillers joined Pernod Ricard in 1988 and is the producer of the world's most well-known Irish whiskeys, led by Jameson.